Buy a Property Bargain – Property to Renovate and Other Property Investment

The property market is falling and house prices are over 8% lower than this time last year. It’s a buyers market and here we look at the property opportunities.

The falling property market makes it a buyers market and in parts of the UK there are 15 sellers for every buyer. If you are in a position to buy, perhaps you have a deposit and mortgage secured, or you are a property investor, then you have the opportunity to buy a bargain. Every market has a winner: with property rises the sellers are the usual winners, with property falls the buyers are the usual winners. Of course it is not as black and white as this – both parties have to gain enough to go ahead with the deal so you have to find the right deal to make it work.

Factors for buyers to consider are: sellers are afraid about how much the market will worsen and therefore may accept a very low offer. Some sellers are prepared to pay your stamp duty saving you more thousands. Some sellers may then also add in more extras such as bonus house and garden fixtures, furniture or even cars. It could be well worth buying before the property market has bottomed out because with these extra bonuses, your offer might well be lower than it would be once the market has bottomed out.

If you are after an even bigger bargain then you could buy a property to renovate. There will be bigger savings on property that requires any updating or modernising because there is less demand from buyers. It’s not a quick way to make money but if you are willing to wait until the market is on the rise you will have a better investment. You would buy the property at a bargain price, renovate it and then cash in once the market has turned. After all, remember prices are predicted to rise 25% by 2012. To find property in need of updating try http://www.renovatealerts.com.

If you are a first time buyer and you have secured a mortgage then buying a property to update is likely to be a good investment. First time buyers are currently hard to find. You will be a very attractive buyer and can make a very low offer. You can then update the property as you are living in it, and when the market picks up you could sell, or rent it out and start the process again.

If you are a cash buyer then again, the falling market is an opportunity for you. You will be highly sought after by sellers and an excellent deal may be had. Keep looking for properties, using search engines such as http://www.WheresMyProperty.com and wait for the right property. Let agents know that you are looking in case they have a potential seller on their books – knowing their property might sell quickly to a cash buyer might be enough incentive to put it on the market.

It is a buyers property market, a deal can be struck and buyers can buy a bargain.



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